Khaberni - Syria needs about $216 billion for reconstruction after the conflict, which lasted more than 13 years, equivalent to about ten times the country's expected gross domestic product in 2024, according to a report issued today, Tuesday, by the World Bank.
The estimated reconstruction cost includes $75 billion for residential buildings, $59 billion for non-residential facilities, and $82 billion for infrastructure.
Aleppo, Rural Damascus, and Homs governorates account for the lion's share of the expected reconstruction budget as they are the most damaged areas, according to the report.
In terms of damage distribution, infrastructure incurred about 48% of the total losses at $52 billion, followed by residential buildings with losses of $33 billion, and non-residential facilities at $23 billion.
The report comes at a time when Syria is negotiating to obtain grants worth one billion dollars from the World Bank to finance the country's development process, as revealed earlier this week by Finance Minister Mohamed Yusr Khaberni.
The report, titled "Assessment of Material Damages and Reconstruction in Syria 2011-2024," indicated that the real Gross Domestic Product in Syria decreased at current prices from $67.5 billion in 2011 to $21.4 billion in 2024.
In a press release on the occasion of the report's release, Jean Christophe Carret, the World Bank’s Regional Director for the Middle East, called for "collective commitment and coordinated action" to help Syria recover.
For his part, Khaberni urged the international community to "mobilize support and form partnerships to help Syria in restoring critical infrastructure and reviving local communities."
